Goat Milk Products Market Size Worth $17.61 Billion By 2030 | CAGR: 4.5%

The global Goat Milk Products Market size is expected to reach USD 17.61 billion by 2030, according to a new study by Polaris Market Research.

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Key factors such as a rise in goat milk production, increasing demand for healthy dairy products, increasing incidence of lactose intolerance, changing eating habits, rising use of goat-based infant formulae, and new R&D activities to increase nutritional value are anticipated to drive the revenue growth of the global goat milk products market.

Global goat milk production is rising at a rapid rate. In the last decade, its production increased by almost 16%. Asia Pacific region has witnessed the largest increase in production rate followed by Africa. Hence a rise in goat milk production is anticipated to boost the revenue growth of the target market.

The prevalence of lactose intolerance is increasing at a rapid rate around the globe. It is estimated that more than 60% of the world's population faces the problem of lactose intolerance. This disorder is more common among Asian, African, and American people than it is among Europeans.

As per the article published by the American College of Gastroenterology, more than 80% of adult African Americans face the problem of lactose intolerance. Moreover, more than 60% of Indians are lactose intolerant. Its products contain a lower amount of lactose than conventional cow milk products. Hence, the demand for these products is anticipated to surge in the future.

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Goat Milk Products Market Report Highlights
• The liquid milk segment is anticipated to grow at a significant CAGR rate over the forecast period owing to increasing demand from consumers as liquid-based products are easy to digest as compared to conventional cow milk. Also, it helps in the absorption of nutrients like copper and iron.
• The supermarket and hypermarket segment accounted for a significant share of the global revenue share as the large retail store chains offer a variety of these products in one place. Also, these store chains purchase these products in bulk quantity which provides higher profit margins to the producers.
• The powdered milk segment is estimated to grow at a high CAGR. The use of powdered milk in personal care products and infant formula have surged in recent years. For example, Urbaine Consumer Private Limited has started offering face wash with goat milk extracts.
• Asia-Pacific is expected to grow at a significant share over the projected period owing to the presence of top milk-producing countries like China, India, and Pakistan. Moreover, the majority of the population has started spending more on healthy dairy products
• The global market is highly competitive owing to the existence of large market players with a global presence including AVH Dairy Trade B.V, Ausnutria Dairy Corporation Ltd., Stickney Hill Dairy Inc., and others.

Polaris Market Research has segmented the goat milk products market report based on product type, distribution channel, and region:

Goat Milk Products, Product Type Outlook (Revenue - USD Billion, 2018 - 2030)
• Liquid Milk
• Powdered Milk

Goat Milk Products, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
• Convenience Store
• Supermarket & Hypermarket
• Specialty Store
• E-commerce Platform
• Other Distribution Channels

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This release was published on openPR.